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Not so quick notes on the CC.
KBLB signed a lease on a new lab - are moving into new facility. Will still be working with university labs but this will allow us to expand and increase our capabilities. This physical expansion is lock step with ramp up of monster silk production.
National Academy of Sciences and Textile World articles have significantly increased the level of interest in our monster silk program during the first quarter.
We have long since achieved homozygosity and the silkworms are definitely producing monster silk.
Current monster silk fiber is stronger than what was described in Academy of Sciences’ article.
Following Monster Silk development, Zinc Finger nucleus has been added to the KBLB arsenal. With it KBLB has created more than one knock out strain and they are currently working on a knock in strain. Anticipate one or more of these new knock outs will become the basis for a new platform technology.
Gen 2 technology is in an advanced state of development. It is a primary RD focus but not exclusively during the second quarter.
Gen 3 technology will be the focus of RD after the development of Gen 2. This platform will incorporate customizable fibers such as antibiotics.
Our business model is to partner with established companies in our target market for product development, manufacturing, and distribution. First step has been to identify and begin discussions with potential partners. The pace of contact with potential partners has increased significantly with the two articles on Monster Silk. We have been approached by a number of companies for use of Monster Silk in their product lines or to develop new products using Monster Silk.
During the first quarter we have entered into NDAs and CAs with a number of those companies ranging from sportswear and fashion to defense / military applications. These are large companies from billions to 50 millions of dollars in worth. We are in very early stages of discussions with each of these companies. We are also in contact with market development partners. These partners are aware KBLB is on track to develop more advanced spider silk products and know that by being involved with KBLB now they will have the inside track into future products.
Kim does not see a spinoff in the immediately foreseeable future for KBLB as he feels at this time it would not be in the best interests of the shareholders. We are still a small company and we are stronger together than we would be broken apart.
Every member of our advisory board brings a diverse expertise to the board. They are not involved on a day to day basis as they are also involved in other interests. That being said these folks are invaluable to Kim and he pays attention to them when he has questions relevant to their particular field of expertise.
As to marketing Kim feels we have only one chance to select who we will be working with and we need to do this right. It's more important to do this right than it is to sign deals so we can say we signed deals. We are only looking for a few partners at this time.
For example, one company may use our product for a particular sportswear application. Another company that weaves fabric for the defense industry might integrate our product into their product line.
We are already talking to more marketing partners than we need. We will be selective based on long term plans. We want to make sure any prospective company we enter into a relationship with:
1. Has the ability to move significant volume of products in the marketplace.
2. Has necessary products and expertise to work with us on successfully integrating monster silk and eventually our Gen 2 products into their product line.
3. They share our vision and passion for this breakthrough fiber.
At the same time we are going to significantly increase our recombinant spider silk production through our Monster Silk brand.
We are already underway in that ramp up process with a significant increase of silk worms and we are successfully stockpiling eggs in preparation for a significant increase of production capacity.
New lab will increase that ramp up for industrial production.
Sigma Aldridge will not be involved in distribution or production but we will continue utilizing their expertise with ZF.
Defense contractors mentioned again with them contacting us with ideas for monster silk applications. This indicates the applicability of monster silk may be broader than we realized.
Kim's Summary Statement:
As company grows and we interact with larger companies in our target market, we need to grow internally as well as externally. We anticipate adding significant new corporate communications and investor relations support as part of our increasing public profile.
Our lab is physically growing as we move part of our RD and production into the new lab.
We are also accelerating our RD on the next Gen 2 technology.
We are also ramping up production of our Monster Silk products. We are reaching out to form partnerships with existing companies in our target market.
I meant no offense to Jerry Markowitz. My point was simply Beck was successful in obtaining the suspension of obligations and responsibilities of legal representative for holders of SEBC common shares.
At any rate, along with Sidedraft, I'd sure be tickled to see a $10 offer!
The order that hurts us peon investors:
12/20/2011 5998 Order Granting Motion Suspending Obligations and Responsibilities of Legal Representative For Holders of SEBC Common Stock (Re: # 5975) (Adam, Lorraine) (Entered: 12/20/2011)
This in effect removes Beck as shareholder representative... But then... what representation did we ever have anyway?
Now I'm having dejavu watching all the lawyers and laywers of lawyers and acountantants and what not fileing for fees just as what happened in July and August of 2010!
I'm glad to see some Without Prejudice Denials of these 'fees'....
Now we see where funds have gone...
Thanks for the link sidedraft
Other Receipts:
Merril Lynch - 500,000.00
Other Oerating Expenses:
Legal/Consulting fees $ - $ 99,621.94
Miscellaneous - 30.75
Bond premium - 86,667.72
Costs to secure/maintain property - 200,347.88
Reversal of bank error-federal interest withheld - 0
Trustee fees & expenses-Ch 7 - 135,312.02
Trustee fees & expenses-Ch 11 - 2,859,498.35
Professional fees & expenses-Ch 7 - 473,790.89
Professional fees & expenses-Ch 11 - 7,036,369.20
Other professional fees and expenses - 3,505,040.00
Other expenses - 20,699.44
Tax interest & penalties - 24,302.01
Courier - 616.26
Annual report - 3,193.75
Storage - 33,736.04
Total Current Period Operating Expenses - $ 2 ,798.45
Total Case Conversion to Date - $ 14,479,226.25
This was posted by Harvey on another board:
I received papers from the BK court today.
I will discuus them with one of the most important and respected BK lawyers in all of South Florida. Yes about the SouthEast Banking Case. We will discuss what can be done to try and bring value to the shareholders.Please continue to add up the shareholder count In case a shareholder meeting is called.
ME100 Harvey
Your welcome Yukii and thanks! It would sure be a change in the outcome of other investments.... er... gambles I've made in 2011.
batspeed I let him know. You're covered for whatever this comes to be.
My Brother has(or as it turns out had) 13,000 shares in ETrade. He just found out his shares were liquidated because that is apparently "company policy" for ETrade. They did this even though he gave no order to do so.
I immediately contacted TDAmeritrade to verify my 45,000 were still there and then sent a message to customer services instructing them to leave the shares as they were and where they were.
Just a heads up for everyone that you may want to verify your shares are still where you think they were.
Yukii yes I sure will. Good Luck!
Flyboy9 most everything is on post 4346 that I know at this time... and with that I see I omitted the com on Harvey's email address. My apologies. The complete address is:
Harvey@greysonproducts.com
If you email him he will call you and tell you what he knows now and you can tell him how many shares you have.
As I learn anything I will post it here. If you hear something different than what you've seen posted, then it's new news so please post it..
Thanks and good luck to all of us on this possible STBP resurrection!
max either let him know how many shares you have or don't. As of now what I've posted is all he or I know. If you have shares and you won't let Harvey know so he can get something going for all, then you are hurting everyone's chance for a possible good thing since what is needed now is a share count.
You think this is an act of cruelity? ......ahem.... ok max. Now I go back to the side till there is more positive and constructive conversations to have.
Gotcha flyboy & batspeed. I'll post here what I learn.
Tanks I'll pass it on.
OT - NEWS on the STBP Board - OT
Hate to do this but please forgive this one time off topic post. For anyone that invested in STBP, PLEASE go to the board and check out what's happening. If you have questions or comments send me a pm or just look at the STBP board so we don't clutter this board. Thanks.
Just got permission to post Harvey's email address:
Harvey@greysonproducts.
If you'll send him your phone number he'll call you back pdq. He called me within 5 minutes of my sending him mine. He'll explain what's happening and how we proceed. I'm here because I agreed to help get word out.
OT - NEWS on the STBP Board - OT
Hate to do this but please forgive this one time off topic post. For anyone that invested in STBP, PLEASE go to the board and check out what's happening. If you have questions or comments send me a pm or just look at the STBP board so we don't clutter this board. Enough going on here as it is... Thanks.
Peace and best wishes to all.
who
They may well be worth a lot more than a tax write off... I'm sending a tally of what I know to Harvey. Do you want me to include your 2g?
aires4747 - do you mind posting how many shares you have? I'm holding 45,000 I thought was dead money till today!
Apologies to those that pm'd me - I wasn't snubbing you, I couldn't respond because I'm not a paying member in IHUB.
But thanks for prompting me to seek permission from Harvey to post his email address.
Let's just hope this STBP adventure turns out better than the last time!!
who
Just got permission to post Harvey's email address:
Harvey@greysonproducts.
If you'll send him your phone number he'll call you back pdq. He called me within 5 minutes of my sending him mine. He'll explain what's happening and how we proceed. I'm here because I agreed to help get word out.
Everyone invested knows we waited on STBP until we thought we watched it die. Now suddenly (to me as I quit keeping an eye on STBP) as long as we're still holding our shares, and things pan out (this time), we just might end up being golden instead of looking at claiming this investment for tax losses.
This possibility does depend on providing QUICK info to Harvey as to how many shares we hold so please send an email to him. Cheers, Peace, and Good Luck to all.
who
FOR ANYONE HOLDING SHARES OF STBP... Harvey Tauman has been contacted by lawyers after they had a meeting with a judge concerning STBP. Something may be in the works for us. The first step toward this is Harvey needs to know who still has shares of this stock and how many stocks there are still out there. Please take the time to contact Harvey and he will get back to you.
What will gen 8 silk be....... self healing and self propelled?